Citations — §305. Distributions of stock and stock rights

Citations to 26 U.S.C. § 305 as a whole

26 U.S.C. § 424(b)

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(b) For purposes of this part, if stock is received by an individual in a distribution to which section 305, 354, 355, 356, or 1036 (or so much of section 1031 as relates to section 1036) applies, and such distribution was made with respect to stock transferred to him upon his exercise of the option, such stock shall be considered as having been transferred to him on his exercise of such option. A similar rule shall be applied in the case of a series of such distributions.

26 U.S.C. § 306(c)(1)(A)

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(A) Stock (other than common stock issued with respect to common stock) which was distributed to the shareholder selling or otherwise disposing of such stock if, by reason of section 305(a), any part of such distribution was not includible in the gross income of the shareholder.
26 U.S.C. § 307(a)

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(a) If a shareholder in a corporation receives its stock or rights to acquire its stock (referred to in this subsection as “new stock”) in a distribution to which section 305(a) applies, then the basis of such new stock and of the stock with respect to which it is distributed (referred to in this section as “old stock”), respectively, shall, in the shareholder’s hands, be determined by allocating between the old stock and the new stock the adjusted basis of the old stock. Such allocation shall be made under regulations prescribed by the Secretary.
26 U.S.C. § 307(b)(1)(A)

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(A) a corporation distributes rights to acquire its stock to a shareholder in a distribution to which section 305(a) applies, and
26 U.S.C. § 312(d)(1)(B)

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(B) if the distribution was not subject to tax in the hands of such distributee by reason of section 305(a).

26 U.S.C. § 1286(e)

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(e) In the case of an account or entity substantially all of the assets of which consist of bonds, preferred stock, or a combination thereof, the Secretary may by regulations provide that rules similar to the rules of this section and section 305(e), as appropriate, shall apply to interests in such account or entity to which (but for this subsection) this section or section 305(e), as the case may be, would not apply.

26 U.S.C. § 167(e)(2)(B)

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(B) This subsection shall not apply to the holder of the dividend rights which were separated from any stripped preferred stock to which section 305(e)(1) applies.